Celebrating 10 Years of REIF: catching up with Freda Rutere

Freda Rutere: MSc REIF 2016-18.
Currently working as an Investment Manager at IHS,
a Green Affordable Housing Fund based in Kenya.

MSc Real Estate Investment Finance (REIF)

A Decade Later - From Student to Impact Investment Professional

Ten years ago, I was featured in this blog as one of the first students pursuing the MSc Real Estate Investment Finance at Oxford Brookes University. At the time, I was working in commercial Real Estate Development Management in Kenya. I spoke about the disconnect I observed between investor decision-drivers and engineering fundamentals, hoping the REIF course would equip me with tools to better steer commercial real estate development decisions at a strategic level.

A decade later, as I reflect on my journey since graduation, I’m amazed at how prescient those words were – and how the MSc REIF became the bridge that transformed my career in ways I couldn’t have imagined - Specifically, I found myself increasingly drawn to projects that addressed housing affordability challenges – a critical issue across many African markets.

Today, I work as an Investment Manager at an affordable housing impact fund, where I focus on investments that generate both financial returns and measurable social impact. My role involves evaluating investment opportunities, conducting due diligence, managing a growing property portfolio, and measuring impact outcomes – all while ensuring strong financial fundamentals are preserved for investors.

The foundation laid by the MSc REIF program, combined with my engineering background, created a unique skill set that proved invaluable to better serving investors in African markets.

Looking back, the MSc REIF program delivered on everything I had hoped for and more: The analytical frameworks I learned during the MSc REIF program proved essential as I began evaluating projects not just on traditional financial metrics, but also on their potential for social impact. The course’s emphasis on understanding real estate as an asset class across various jurisdictions globally (as I had hoped) became particularly relevant as I worked on cross-border affordable housing initiatives.

For those currently in the program or considering it, my advice is to embrace the interdisciplinary nature of real estate investment finance. Don’t see it just as a property or finance course – view it as a foundation for understanding how built environments can be leveraged to create positive change and make meaningful contributions.

To the current faculty and students of the MSc REIF program: thank you for continuing to push the boundaries of how we think about real estate investment globally. 

The decade since graduation has been an incredible journey of growth and impact. I’m proud to be part of the Oxford Brookes REIF alumni community and excited to see how the next generation of graduates will shape the future of real estate investment.